WireBarley partners with Tencent Financial Technology for global remittance
SEOUL, South Korea, Feb. 14, 2022 /PRNewswire/ — WireBarley today announced its partnership with Tencent Financial Technology for overseas remittance service, specifically for international money transfers to China through Weixin, the mainland Chinese version of WeChat.
WireBarley is the first Korean fintech company to partner with Tencent Financial Technology for inbound remittance service into China through Weixin. The partnership between the two tech companies is expected to further enhance the overall user convenience. When a WireBarley user sends money to China, a recipient can now easily receive the money through Weixin, which has gradually evolved from a social communication app to being a way of life in China.
Weixin will be added as an option and available between corridors from WireBarley’s 11 sending countries, including Korea, the U.S., and Canada, to China.
“We’re pleased to announce this partnership with WireBarley to further expand Tencent Financial Technology’s global reach. The collaboration marks another important step towards enabling Chinese residing worldwide to send money more conveniently to Weixin users in China,” said Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific.
“Our partnership with Tencent Financial Technology enables us to offer more convenient remittance service and delivery methods for customers sending funds to China. Together with our 50 partner companies, we plan to build a fintech ecosystem without borders. We aim to provide a convenient and safe cross-border remittance experience to our worldwide customers,” said Joongwon John Yoo, CEO of WireBarley.
All new customers remitting funds to Weixin users in China will receive a US$20 WireBarley coupon (or its equivalent in local currency) when the transaction is successfully completed through the end of February. The promotion is applicable for all remittances made to China from WireBarley’s 11 sending countries – Korea, Australia, the U.S., New Zealand, Canada, the U.K., France, Germany, Italy, Netherlands, Irelands, and more.
Established in 2016, WireBarley grew exponentially with a strong foothold in the Asia Pacific, including Australia, South Korea, New Zealand, and Singapore. Recently, the fintech has further strengthened its presence as a global brand with its expansion into the U.S. and Canada markets, for the first time as a Korean overseas remittance company. Headquartered in South Korea, it has multiple subsidiaries worldwide in Australia, New Zealand, Singapore, Hong Kong, and the U.S. WireBarley’s FX and corporate treasury center in Hong Kong, which is one of the largest FX trading hubs in the world, plays a key role in enabling effective FX management and strong compliance practicality and formulating strategic partnerships with key banks and payment players in the Asia Pacific. With 12 outbound and 44 inbound countries, WireBarley currently offers over 520 corridors for personal remittance. The company recently expanded into providing B2B remittance and e-wallet services, as it seeks to be not only Asia’s leading remittance company but to leap forward to become a global total payment platform.
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